This paper shows that pyramidal ownership - a prevalent organizational structure among French corporations - has sizeable agency costs. These agency costs arise because ownership pyramids tend to agnify the degree of separation between ownership and control: a group leader may have effective...

In this paper, the authors analyze the non paramatric identification of dynamic discrete choice without consumption smoothing using individual data on discrete choices. They posit that preferences are not restricted and that agents have private information about heir tastes at each period that...

We describe and analyse the changes in the occupational structure of french manufacturing firms between 1984 and 1985. We develop and test a labor demand model that shows the role played by technological change.